AWM Investment Company, Inc.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), AWM Investment Company, Inc. reported 98 stock positions worth $903.4 million. Its top holding was Aehr Test Systems (AEHR) at 6.5% of the portfolio, followed by Nlight (LASR, 6.5%) and Vicor (VICR, 5.1%). Compared with Q4 2025, it opened 13 new positions, sold out of 17, added to 28 and reduced 26. The biggest buy was Aehr Test Systems (AEHR, shares +4%) and the biggest sale an exit from Adma Biologics (ADMA).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001535264
Portfolio Value
$903.4M (Q1 2026)
SEC Filing
0001535264-26-000032 ↗ filed May 15, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $763.5M Q1 2024 Q2 2024: $740.2M Q2 2024 Q3 2024: $825.3M Q3 2024 Q4 2024: $820.5M Q4 2024 Q1 2025: $725.8M Q1 2025 Q2 2025: $891.5M Q2 2025 Q3 2025: $1.1B Q3 2025 Q4 2025: $1.0B Q4 2025 Q1 2026: $903.4M $903.4M Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 98 stocks · $903.4M
AEHR Aehr Test Systems 6.54% 1,593,971 $59.1M Add +3.7%
LASR Nlight Inc. 6.46% 1,023,739 $58.4M Reduce -12.5%
VICR Vicor Corp. 5.14% 288,180 $46.4M Reduce -13.5%
BKSY Blacksky Technology Inc. 4.81% 1,725,610 $43.4M No change
GILT Gilat Satellite Networks Ltd. 3.83% 2,302,767 $34.6M Reduce -2.1%
MASS 908 Devices Inc. 3.52% 5,199,924 $31.8M No change
AMSC American Superconductor Corp. 3.00% 801,604 $27.1M Add +6.3%
KOPN Kopin Corp. 2.94% 11,814,812 $26.6M Reduce -0.3%
AVAV Aerovironment Inc. 2.65% 130,658 $23.9M Add +9.9%
PI Impinj Inc. 2.35% 207,018 $21.3M Add +16.2%
LPTH Lightpath Technologies Inc. Class A 2.26% 2,037,610 $20.4M Reduce -0.1%
DFTX Definium Therapeutics Inc. 2.25% 1,076,893 $20.4M Reduce -22.6%
TALK Talkspace Inc. 2.19% 3,826,892 $19.8M Reduce -2.6%
VELO VELO3D Inc. 2.06% 1,978,282 $18.6M Reduce -8.1%
MRAM Everspin Technologies Inc. 2.02% 2,077,241 $18.3M Reduce -2.3%
ARLO Arlo Technologies Inc. 1.99% 1,265,109 $18.0M Add +7.9%
BFLY Butterfly Network Inc. 1.98% 4,430,593 $17.9M Add +30.3%
UTI Universal Technical Institut 1.95% 489,098 $17.7M Add +12.7%
CEVA Ceva Inc. 1.79% 864,806 $16.2M Add +4.5%
AIOT Powerfleet Inc. 1.60% 4,701,506 $14.5M No change
REAL The Realreal Inc. filed as THE REALREAL INC 1.49% 1,483,847 $13.5M Add +4.2%
RDCM Radcom Ltd. 1.33% 991,261 $12.1M No change
MDXH Mdxhealth 1.33% 5,221,282 $12.0M No change
SRTA Strata Critical Medical Inc. 1.31% 2,821,468 $11.8M No change
GNSS Genasys Inc. 1.14% 5,649,544 $10.3M No change
OWLT Owlet Inc. 1.13% 1,978,470 $10.2M Add +13.2%
GRSD Grandstand Ltd. filed as GAMBLING COM GROUP LIMITED 1.07% 2,486,477 $9.6M Add +73.4%
ASPI Asp Isotopes Inc. 1.04% 2,124,496 $9.4M No change
IMDX Insight Molecular Diagnostic 1.02% 2,806,256 $9.2M Reduce -0.3%
ACOG Alpha Cognition Inc. 1.02% 1,672,168 $9.2M No change
PVLA Palvella Therapeutics Inc. 0.96% 69,416 $8.7M No change
TLSI Trisalus Life Sciences Inc. 0.92% 2,079,105 $8.3M Add +67.2%
WLAC Willow Lane Acquisition Class A 0.92% 779,299 $8.3M New
GLXY Galaxy Digital Inc. Class A 0.91% 445,000 $8.2M Add +15.6%
NGS Natural Gas Services Group 0.90% 214,776 $8.1M Reduce -68.3%
TYGO Tigo Energy Inc. 0.90% 2,150,930 $8.1M Add +802.6%
SNWV Sanuwave Health Inc. 0.87% 454,550 $7.9M No change
LOVE The Lovesac Co. 0.82% 500,002 $7.4M No change
GRO Brazil Potash Corp. 0.80% 2,228,600 $7.2M Add +11.4%
CTRN Citi Trends Inc. 0.80% 166,127 $7.2M Reduce -31.3%
OOMA Ooma Inc. 0.66% 411,108 $6.0M Reduce -17.7%
REAL BROKERAGE INC/THE filed as THE REAL BROKERAGE INC 0.62% 2,255,940 $5.6M Add +1.1%
RSVR Reservoir Media Inc. 0.60% 551,594 $5.4M No change
SPIR Spire Global Inc. 0.60% 428,813 $5.4M Add +2.5%
FBRX Forte Biosciences Inc. 0.57% 200,000 $5.2M Reduce -15.6%
RCAT Red Cat Holdings Inc. 0.54% 374,460 $4.9M Reduce -63.0%
BLZE Backblaze Inc. Class A 0.53% 1,400,166 $4.8M Reduce -54.4%
DXLG Destination XL Group Inc. 0.53% 9,399,297 $4.8M No change
RANI Rani Therapeutics Holdings Class A 0.53% 6,500,000 $4.8M No change
FEAM 5E Advanced Materials Inc. 0.50% 3,250,000 $4.5M New
FENC Fennec Pharmaceuticals Inc. 0.49% 720,135 $4.4M Add +1.2%
BLNE Beeline Holdings Inc. 0.48% 1,848,641 $4.3M Reduce -1.4%
ALLT Allot Ltd. 0.46% 624,700 $4.2M Add +25.3%
ANRO Alto Neuroscience Inc. 0.42% 170,000 $3.8M Reduce -24.4%
KIDS Orthopediatrics Corp. 0.42% 237,169 $3.8M Add +10.7%
AVNW Aviat Networks Inc. 0.41% 165,723 $3.7M No change
PGNY Progyny Inc. 0.41% 220,000 $3.7M Add +10.0%
GRWG Growgeneration Corp. 0.41% 3,380,784 $3.7M No change
CRNX Crinetics Pharmaceuticals Inc. 0.40% 100,000 $3.6M No change
ARBE Arbe Robotics Ltd. 0.40% 5,901,897 $3.6M Add +49.2%
ABEO Abeona Therapeutics Inc. 0.40% 803,130 $3.6M Add +3.8%
GAIA Gaia Inc. 0.38% 1,252,090 $3.5M No change
OUST Ouster Inc. 0.38% 186,000 $3.4M New
ELDN Eledon Pharmaceuticals Inc. 0.38% 1,100,000 $3.4M No change
IPWR Ideal Power Inc. 0.37% 1,196,849 $3.4M Add +52.3%
XTNT Xtant Medical Holdings Inc. 0.37% 5,976,910 $3.3M Reduce -9.4%
LYTS Lsi Industries Inc. 0.36% 176,097 $3.3M New
PEPG Pepgen Inc. 0.36% 1,830,925 $3.2M Add +40.8%
APEI American Public Education 0.34% 53,500 $3.0M Reduce -42.2%
NXDR Nextdoor Holdings Inc. 0.33% 2,153,838 $3.0M Add +115.4%
ARGX Argenx SE - ADR 0.30% 3,750 $2.7M No change
ALMU Aeluma Inc. 0.29% 200,000 $2.6M No change
HIPO Hippo Holdings Inc. 0.29% 100,000 $2.6M No change
OPK Opko Health Inc. 0.27% 2,100,000 $2.4M No change
PAYS Paysign Inc. 0.25% 385,965 $2.3M Add +14.8%
BNTC Benitec Biopharma Inc. 0.22% 187,977 $2.0M Reduce -33.6%
MODD Modular Medical Inc. 0.21% 366,666 $1.9M New
NKTX Nkarta Inc. 0.21% 906,000 $1.9M No change
INFU Infusystem Holdings Inc. 0.21% 201,077 $1.9M Reduce -64.2%
AYTU Aytu Biopharma Inc. 0.19% 619,574 $1.7M No change
SABS Sab Biotherapeutics Inc. 0.17% 400,000 $1.5M Add +100.0%
OPRX Optimizerx Corp. 0.16% 230,421 $1.4M No change
NKTR Nektar Therapeutics 0.16% 20,000 $1.4M Reduce -50.0%
ABX Abacus Global Management Inc. 0.16% 177,772 $1.4M No change
DHX Dhi Group Inc. 0.15% 497,698 $1.4M No change
NXTC Nextcure Inc. 0.14% 117,371 $1.2M No change
MSLE Satellos Bioscience Inc. 0.13% 215,000 $1.2M New
AQST Aquestive Therapeutics Inc. 0.12% 270,400 $1.1M New
BDTX Black Diamond Therapeutics I 0.12% 525,000 $1.1M Reduce -16.0%
CNTY Century Casinos Inc. 0.10% 639,834 $889K Reduce -17.0%
UCTT Ultra Clean Holdings Inc. 0.08% 11,442 $711K Reduce -91.8%
CTMX Cytomx Therapeutics Inc. 0.08% 150,000 $705K New
RNA Atrium Therapeutics Inc. 0.07% 50,000 $669K New
AVR Anteris Technologies Global 0.07% 115,000 $638K New
CYRX Cryoport Inc. 0.06% 61,111 $506K New
SERA Sera Prognostics Inc. Class A 0.05% 207,382 $421K No change
MaxCyte, Inc. 0.04% 500,000 $351K New
DMAC Diamedica Therapeutics Inc. 0.03% 36,000 $244K New

Portfolio Sells Q4 2025 → Q1 2026
ADMA Adma Biologics Inc. Sold out 0.00% −3.88
NGS Natural Gas Services Group Reduce -68.3% 0.90% −1.30
FRGE Forge Global Holdings Inc. Sold out 0.00% −1.14
IMDX Insight Molecular Diagnostic Reduce -0.3% 1.02% −1.02
BLZE Backblaze Inc. Class A Reduce -54.4% 0.53% −0.85
AVDL Avadel Pharmaceuticals Ltd. Sold out 0.00% −0.66
VELO VELO3D Inc. Reduce -8.1% 2.06% −0.65
VITL Vital Farms Inc. Sold out 0.00% −0.63
CRVO Cervomed Inc. Sold out 0.00% −0.61
TBCH Turtle Beach Corp. Sold out 0.00% −0.55
BTBT Bit Digital Inc. Sold out 0.00% −0.55
RAPT Rapt Therapeutics Inc. Sold out 0.00% −0.53
WYFI Whitefiber Inc. Sold out 0.00% −0.50
LMAT Lemaitre Vascular Inc. Sold out 0.00% −0.49
COYA Coya Therapeutics Inc. Sold out 0.00% −0.41
INFU Infusystem Holdings Inc. Reduce -64.2% 0.21% −0.28
UCTT Ultra Clean Holdings Inc. Reduce -91.8% 0.08% −0.26
INDV Indivior Pharmaceuticals Inc. Sold out 0.00% −0.26
LENZ Lenz Therapeutics Inc. Sold out 0.00% −0.23
RCAT Red Cat Holdings Inc. Reduce -63.0% 0.54% −0.23
CTRN Citi Trends Inc. Reduce -31.3% 0.80% −0.17
BNTC Benitec Biopharma Inc. Reduce -33.6% 0.22% −0.15
OVID Ovid Therapeutics Inc. Sold out 0.00% −0.14
XTNT Xtant Medical Holdings Inc. Reduce -9.4% 0.37% −0.13
SLNO Soleno Therapeutics Inc. Sold out 0.00% −0.09
DCTH Delcath Systems Inc. Sold out 0.00% −0.06
FBRX Forte Biosciences Inc. Reduce -15.6% 0.57% −0.05
BDTX Black Diamond Therapeutics I Reduce -16.0% 0.12% −0.02
ASPN Aspen Aerogels Inc. Sold out 0.00% −0.01
NKTR Nektar Therapeutics Reduce -50.0% 0.16% −0.00
APEI American Public Education Reduce -42.2% 0.34% −0.00
CNTY Century Casinos Inc. Reduce -17.0% 0.10% −0.00
ANRO Alto Neuroscience Inc. Reduce -24.4% 0.42% +0.04
OOMA Ooma Inc. Reduce -17.7% 0.66% +0.10
MRAM Everspin Technologies Inc. Reduce -2.3% 2.02% +0.12
LPTH Lightpath Technologies Inc. Class A Reduce -0.1% 2.26% +0.13
BLNE Beeline Holdings Inc. Reduce -1.4% 0.48% +0.17
KOPN Kopin Corp. Reduce -0.3% 2.94% +0.27
DFTX Definium Therapeutics Inc. Reduce -22.6% 2.25% +0.45
TALK Talkspace Inc. Reduce -2.6% 2.19% +0.81
GILT Gilat Satellite Networks Ltd. Reduce -2.1% 3.83% +0.89
VICR Vicor Corp. Reduce -13.5% 5.14% +1.61
LASR Nlight Inc. Reduce -12.5% 6.46% +2.22

Portfolio Buys Q4 2025 → Q1 2026
AEHR Aehr Test Systems Add +3.7% 6.54% +3.55
WLAC Willow Lane Acquisition Class A New 0.92% +0.92
AMSC American Superconductor Corp. Add +6.3% 3.00% +0.91
TYGO Tigo Energy Inc. Add +802.6% 0.90% +0.86
UTI Universal Technical Institut Add +12.7% 1.95% +0.86
BFLY Butterfly Network Inc. Add +30.3% 1.98% +0.73
FEAM 5E Advanced Materials Inc. New 0.50% +0.50
GRO Brazil Potash Corp. Add +11.4% 0.80% +0.43
ARLO Arlo Technologies Inc. Add +7.9% 1.99% +0.41
OUST Ouster Inc. New 0.38% +0.38
LYTS Lsi Industries Inc. New 0.36% +0.36
GRSD Grandstand Ltd. Add +73.4% 1.07% +0.31
SPIR Spire Global Inc. Add +2.5% 0.60% +0.29
MODD Modular Medical Inc. New 0.21% +0.21
IPWR Ideal Power Inc. Add +52.3% 0.37% +0.14
MSLE Satellos Bioscience Inc. New 0.13% +0.13
NXDR Nextdoor Holdings Inc. Add +115.4% 0.33% +0.13
AQST Aquestive Therapeutics Inc. New 0.12% +0.12
SABS Sab Biotherapeutics Inc. Add +100.0% 0.17% +0.10
PAYS Paysign Inc. Add +14.8% 0.25% +0.08
TLSI Trisalus Life Sciences Inc. Add +67.2% 0.92% +0.08
CTMX Cytomx Therapeutics Inc. New 0.08% +0.08
GLXY Galaxy Digital Inc. Class A Add +15.6% 0.91% +0.08
RNA Atrium Therapeutics Inc. New 0.07% +0.07
AVR Anteris Technologies Global New 0.07% +0.07
CEVA Ceva Inc. Add +4.5% 1.79% +0.07
CYRX Cryoport Inc. New 0.06% +0.06
KIDS Orthopediatrics Corp. Add +10.7% 0.42% +0.05
MaxCyte, Inc. New 0.04% +0.04
DMAC Diamedica Therapeutics Inc. New 0.03% +0.03
ABEO Abeona Therapeutics Inc. Add +3.8% 0.40% +0.00
ALLT Allot Ltd. Add +25.3% 0.46% −0.01
FENC Fennec Pharmaceuticals Inc. Add +1.2% 0.49% −0.04
ARBE Arbe Robotics Ltd. Add +49.2% 0.40% −0.05
PGNY Progyny Inc. Add +10.0% 0.41% −0.08
AVAV Aerovironment Inc. Add +9.9% 2.65% −0.13
REAL BROKERAGE INC/THE Add +1.1% 0.62% −0.16
PEPG Pepgen Inc. Add +40.8% 0.36% −0.46
PI Impinj Inc. Add +16.2% 2.35% −0.64
REAL The Realreal Inc. Add +4.2% 1.49% −0.68
OWLT Owlet Inc. Add +13.2% 1.13% −1.61

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 106$1.2BLASR, VICR, MASS, LPTH, AMSC
Q1 2026 98$903.4MAEHR, LASR, VICR, BKSY, GILT
Q4 2025 102$1.0BLASR, ADMA, VICR, BKSY, AEHR
Q3 2025 101$1.1BAEHR, MASS, AMSC, BKSY, AVAV
Q2 2025 92$891.5MAMSC, BKSY, ADMA, MASS, AVAV
Q1 2025 93$725.8MADMA, AMSC, AIOT, MASS, ASPI
Q4 2024 85$820.5MADMA, AMSC, AIOT, BKSY, PI
Q3 2024 96$825.3MADMA, PI, AMSC, ASPN, DXLG
Q2 2024 98$740.2MADMA, AMSC, PI, DXLG, ASPN
Q1 2024 114$763.5MPI, ADMA, AMSC, ASPN, DXLG